Paula Radcliffe broke the world marathon record in London this year
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Four of the world's biggest marathons - London, Berlin, Boston, and Chicago - have refused to join the ING World Marathon Ranking series.
New York sponsors ING wanted a ranking system based on results from 16 major marathons, with prize money of $1.7m
But the four rejected the scheme, saying they were not included in preliminary discussions or planning.
Flora London Marathon Race Director David Bedford said: "The proposed scheme has serious flaws."
The former distance runner said he had no objection in principle to a ranking system but was unhappy with the concept of it being organised by a sponsor.
"We believe any rankings should be managed by the International Association of Athletics Federations (IAAF) and Association of International Marathons (AIMS) and have the support of all marathons," he said.
"Further, the scheme is an attempt by one company to associate itself with successful marathons with which they have no connection."
Organisers fear a series backed by financial services group ING could jeopardise relationships with their own race sponsors.